Assume a retail shopping center can be purchased for $8.5 million. The center's first year NOI expected to be $589,500. A $5,000,000 loan has been requested. The loan carries a 6.4 percent fixed contract rate, amortized monthly over 30 years with a 7-year term. What will be the rty^ prime s (annual) debt coverage ratio in the first year of operations?

a) 0.66

b) 1.07

c) 1.12

d) 1.47

e) 1.57